ClassWallet Valuation, Funding & Investors
ClassWallet is valued at $3M as of May 2014.
Last ClassWallet valuation
$3M
Pre-seed · May 2014
Last ClassWallet funding round
$95M
Undisclosed stage · Aug 2023
Cumulative funding ClassWallet raised
$101M
across 5 funding rounds
Key investors in ClassWallet
NewSchools Venture Fund
Techstars
Sinovation Ventures
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William GuttmanFlorida Funders
Alpaca VC
About ClassWallet
ClassWallet is a Hollywood, Florida-headquartered platform founded in 2014 that manages purchasing and reimbursements for public funds in education. The patented digital wallet serves state agencies and school districts across 32 U.S. states, handling over $2.7 billion in funds through an integrated marketplace featuring Amazon, Best Buy, Home Depot, Michaels, Office Depot, Scholastic, Staples, Varsity Tutors. Ranked 477 on Inc. 5000 in 2023 and 114th on Deloitte Technology Fast 500.
Founded
2014
HQ
Fort Lauderdale, FLWebsite
Status
Privately held
Customer focus
B2G
Revenue model
Subscription
Valuation
$3M (May 2014)
ClassWallet Valuation
ClassWallet is currently valued at $3M, based on its pre-seed round in May 2014.
The $600K round included Techstars, NewSchools Venture Fund and Kaplan EdTech Accelerator.
ClassWallet valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| May 2014 | Pre-seed | $3M |
ClassWallet Funding History
ClassWallet has raised a total of $101M across 5 funding rounds.
ClassWallet's first fundraising round was a $600K pre-seed round in May 2014. The most recent completed round was a $95M undisclosed-stage round in August 2023.
ClassWallet funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Aug 2023 | Undisclosed stage | Guidepost Growth Equity (lead); Lazard Glb Total Return; Education Growth Partners | $95M | - | ClassWallet is a digital wallet-based purchasing and reimbursement platform for public funds, primarily serving state agencies, school districts, and government entities to streamline compliant fund disbursement, reduce fraud, track expenses, and ensure compliance. The company operates across 32 states, with significant penetration including every teacher in Georgia and about two-thirds in Florida, where 8-10% of the nation's teachers use its accounts for classroom supplies and professional development. On August 15, 2023, ClassWallet closed its first institutional growth capital funding round of $95 million, led by Guidepost Growth Equity with participation from Education Growth Partners and Lazard Family Office Partners. This followed an earlier significant minority growth investment from Guidepost in March 2023. The funding aims to support expansion in sales and marketing, senior management hiring, product improvements including business intelligence and AI for greater efficiencies, and overall growth in the education and state government digital spend management market. ClassWallet demonstrated strong traction, ranked No. 477 on the Inc. 5000 list of fastest-growing private U.S. companies in 2023 with 1,217% three-year revenue growth, and No. 155 on Deloitte's Technology Fast 500 for North America. In 2023, it was on track to process about $1.3 billion through its platform, reflecting over 100% year-over-year growth, and had doubled headcount twice in recent years to 300 employees, with about 50 in South Florida. Investors praised ClassWallet's capital-efficient, entrepreneur-led model and its transformation of manual public fund processes. Guidepost, managing over $1.6 billion, typically invests in growth-stage tech firms and provided strategic guidance. The company was advised by William Blair and Goodwin Procter, while Guidepost used Choate Hall & Stewart. |
| May 2018 | Seed | Rainfall Ventures (lead); Sinovation Ventures; NewSchools Venture Fund; Florida Funders; Brentwood Associates | $2M | - | - |
| Apr 2016 | Seed | Sinovation Ventures (lead); William Guttman; Techstars | $2M | - | - |
| Jul 2015 | Seed | William Guttman; Alpaca VC; Kaplan Ventures; Edovate Capital; NewSchools Venture Fund; Cito Ventures | $2M | - | - |
| May 2014 | Pre-seed | Techstars; NewSchools Venture Fund; Kaplan EdTech Accelerator | $600K | $3M | - |
Who has invested in ClassWallet?
15 investors have backed ClassWallet across its funding rounds, including NewSchools Venture Fund, Techstars, Sinovation Ventures, William Guttman, Florida Funders and Alpaca VC.
Lead investors include Guidepost Growth Equity, Rainfall Ventures and Sinovation Ventures.
ClassWallet Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| United States | 3 | Participant | May 2014 | |
| William Guttman | Pittsburgh, PA | 2 | Participant | Jul 2015 |
 Beijing | 2 | Lead | Apr 2016 | |
| Boulder, CO | 2 | Participant | May 2014 | |
| New York City, NY | 1 | Participant | Jul 2015 | |
| New York City, NY | 1 | Participant | Aug 2023 | |
| Miami, FL | 1 | Participant | Jul 2015 | |
| Denver, CO | 1 | Participant | Jul 2015 | |
| Stamford, CT | 1 | Participant | Aug 2023 | |
| Boston, MA | 1 | Lead | Aug 2023 | |
| Miami, FL | 1 | Participant | Jul 2015 | |
| Tampa, FL | 1 | Participant | May 2018 | |
| Los Angeles, CA | 1 | Lead | May 2018 | |
This data is available for Pro users. Sign up to see all 15 ClassWallet investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialClassWallet Competitors
ClassWallet competitors include listed companies like Amaze Holdings and Dynamic Aerospace Systems, and private ones like Roketfy, CompanionCabinet Software, Dreamztech (M) Berhad and MyBusiness.com.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
 Istanbul | Private | - | - | $3M | - | |
| Charlotte, NC | Private | - | - | $3M | - | |
 Johor Bahru | Private | - | - | $3M | - | |
 Lisbon | Private | - | - | $4M | - | |
| United States | Publicly listed | $2M | ($50M) | $3M | 3.3x | |
| United States | Publicly listed | - | ($7M) | $5M | - |
ClassWallet Public Comps
ClassWallet is still privately-owned, but its public comps include Amaze Holdings, Unlimit Group, Dynamic Aerospace Systems, Comperia, Grab2Go, Planet B2B, Star8, Local, Infracommerce and Bridge Solutions Hub.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $2M | ($50M) | 3.3x | 3.3x | (0.1x) | (0.5x) | |||
| $1K | ($761K) | 5663.7x | - | (6.2x) | - | |||
| - | ($7M) | - | - | (0.8x) | - | |||
| $19M | $892K | 0.2x | - | 5.0x | - | |||
| $3K | ($21K) | 155.1x | - | (22.3x) | - | |||
| $292K | $104K | 19.7x | - | 55.1x | - | |||
| - | - | - | - | - | - | |||
| $83M | $673K | 0.0x | - | 0.1x | - | |||
This data is available for Pro users. Sign up to see all ClassWallet competitors and their valuation data. Start Free Trial | ||||||||
Common questions about ClassWallet
| When was ClassWallet founded? | ClassWallet was founded in 2014. |
| Where is ClassWallet headquartered? | ClassWallet is headquartered in Fort Lauderdale, FL, United States. |
| Is ClassWallet publicly listed? | No, ClassWallet is a private, VC-backed company. |
| What is ClassWallet's valuation? | ClassWallet was last valued at $3M in its pre-seed round in May 2014. |
| How much funding has ClassWallet raised? | ClassWallet has raised $101M across 5 funding rounds. |
| What was ClassWallet's last funding round? | ClassWallet's last funding round was a $95M undisclosed-stage round in August 2023, led by Guidepost Growth Equity. |
| Who are ClassWallet's investors? | ClassWallet's investors include NewSchools Venture Fund, William Guttman, Sinovation Ventures, Techstars, Alpaca VC, Lazard Glb Total Return, Kaplan Ventures, Edovate Capital, Education Growth Partners, Guidepost Growth Equity and 5 others. |
| Which companies are comparable to ClassWallet? | Companies comparable to ClassWallet include Roketfy, CompanionCabinet Software, Dreamztech (M) Berhad, MyBusiness.com, Amaze Holdings and Dynamic Aerospace Systems. |
See companies similar to ClassWallet
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